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DJ30: High level step up
2022-10-26
1219
Fundamental analysis:
The Dow Jones Index closed up 337.12 points, or 1.07%, at 31836.74 on October 25 (Tuesday); The weak US economic data triggered broader recession concerns, but the still high inflation convinced investors that the Federal Reserve would not suspend the pace of interest rate increases in the near future. The Federal Reserve does not have to witness more layoffs, but it does need to see wage growth decline.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum continues to move up in a ladder like manner, the short-term bullish sentiment continues, and the bulls continue to climb. The MACD index is at the high level in the bulls' region, while the RSI index is at the high level in the bulls' region and hovers at the low level;
Empty turning point: 31771
Pressing: 32057, 32246
Support: 31560, 31368
Trading strategy: 31771 upside bullish, target 32057, 32246
Alternative strategy: 31771 bearish, target 31560, 31368
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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